MarketHero: Indian stock market investing goes social

mhero1.pngMarketHero is a new startup, currently in alpha, hoping to bridge the gap between the Indian stock market and Web 2.0.

Here’s how it works:

On signing up, each user gets Rs. 10 lakhs in virtual currency. You can buy – sell stocks traded on BSE and build a virtual portfolio. The ask – bid prices are actual, delayed quotes from the Bombay Stock Exchange. The idea is to understand market movements and share knowledge amongst the community.

Of course, ones with the most successful portfolios get bragging rights and listed on the ‘Hero Meter’.

Other social features are planned, which would make it a true social investing site like Covestor, StockPickr et al.

I do have one suggestion for the MarketHero team – stop branding yourself as a ‘Online Indian Stock Game’ if your goal is to evolve into a social investment site (or something bigger).

Its great to see some innovation is this space finally – its about time we disposed off the crappy Moneycontrol. Bollywood, cricket and Share market – these are the three things that have wide, mass appeal in India. The former two already have hordes of players while the latter is still waiting to be conquered.

Here’re some additional recent initiatives in the stock market games market:

  • Zapak launches “Game for Money” , a Sensex based game (via CS)
  • Economic Times plans stock market based game
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14 comments

  1. Pranav, Out of curiosity, which sites do you frequent for Bollywood? I haven’t come across any that i can open without raising eyebrows at workplace or one that has the depth of imdb.com

  2. Hi Pranav,

    I completely agree with your suggestion to MarketGuru. They must be clear in their heads where they want to take this site. Its actually a good time to enter the market with this kind of concept as no one else is anywhere close to this.

    have u heard of http://www.paisawaisa.com?? Dont know much about the concept but it has something to do with finance.

    Excellent color combinations they have used…I must say..

  3. Moneycontrol has site MoneyBhai.com on the same concept, so it has a huge competitor.

    - VK
    http://www.marktetbuzz.in

  4. copy of moneybhai which moneycontrol.com rolled out 2 yrs back….so may not really be a new kid on the bloc

  5. @vivek – I dont frequently visit any b’wood sites. but the ones i visit occasionally are indiafm, buzz18, rediff etc.

    @sanjiv – paisawaisa seems to be targetted towards personal finance..a bit different from what markethero folks are aiming for

    @VK, sachin – moneybhai has been around for some time — but they havent innovated much. it’ll be interesting to see how markethero folks set themselves apart from them.

  6. social network around indian stock market sure has loads of potential. it will also help educate ppl who are new to buying and selling stocks

  7. I happen to agree with Sanjiv… MarketGur’s concept is unique.. it’s the only rela tool for investors (!!) to actually make good investing decisions.. I agree the timing is right as well.

  8. I agree with you pranav point is how much do they innovate. Social networking can give a new dimension to trading.

    checkout other virtual trading sites:

    khelostocks.com (has been arround for more than a year but not much publicity)

    tradecracker (paid site started by ex-director of IIMA and is laso part of curriculam there)

  9. Hi Pranav,

    Trying to hunt for Markethero founder info. The website draws up a blank. Can you help here. Please mail me if you can.

    Thanks.

    Regards,
    Rashmi

  10. I trust MoneyLIFE, my fortnightly personal finance magazine when it is about managing my personal finances-investing, stocks, mutual funds and so on.

    Everyone should get benefited from my MoneyLIFE.
    http://www.moneylife.in

  11. I agree its different than the money Bhai, but then what is the driving factor over here? apart from paisawaisa, i know aisapaisa was also coming with similar idea. Innovation is agreeable but then these companies need to justify to customers, their existence unless they target the intended patrons on own rather than all customers just trying it and then deciding.

  12. I wonder why dont they become a online brokerage service? Since the basic network architecture has already been built.

    What is their exit strategy

  13. Anu,

    the reason why they might not be interested in online brokerage service is bcos getting involved in online brokerage means a whole lot of legal and liability issues are involved.

    probably, they might want to do it later down the line.